Client Acceptance Policy

Table of Content

Who We Are

Licenses Onboarded at Praxis

Approval for Onboarding Process

Prohibited Industries/Activities

Who We Are

Praxis Tech Ltd is a technology/software company providing data transfer and integration services by being a middleware to the online payment industry. Due to the nature of our business as a non-financial institution, Praxis only needs to abide by the PCI rules and GDPR. The company’s legal opinion can be found here.

Our client base includes regulated FX, Crypto, Gaming, E-commerce, and e-gaming. Praxis does not onboard companies based in the USA, blacklisted countries or from the prohibited industries list below.

Licenses Onboarded at Praxis

The following licenses are currently onboarded with Praxis:

Forex:

  • United Kingdom (FCA)
  • Cyprus (CYSEC)
  • Germany (BaFin)
  • Italy (Consob)
  • Austria (FMA)
  • Australia (ASIC)
  • South Africa (FSCA)
  • Isle of Man (IOMFSA)
  • Montenegro (CBCG)
  • Seychelles (FSA)
  • British Virgin Islands (BVFSC)
  • Cayman Island (CIMA)
  • Canada (Fintrac)
  • Vanuatu (VFSC)
  • Malaysia (Labuan)

Crypto:

  • Estonia (FIU)

Gaming:

  • Malta (MGA)
  • Gibraltar (GGC)
  • Curacao (CGC)
  • United Kingdom (GC)
  • Cyprus (CGC)

Approval for Onboarding Process

Approval for Onboarding Process:

  • Collection of KYC of the client (including full corporate package, license, UBO information, domain ownership etc.)
  • Background check on the company and the UBO using WorldCheck & MediaCheck 

Prohibited Industries/Activities

Prohibited Industries/Activities:

  • Adult Entertainment
  • Child Pornography
  • Weapons and arms dealing
  • Illegal drugs or medications
  • Human/organ Trafficking
  • Prostitution and other dating services
  • Promotion of terrorist activities
  • Identity theft and forgery of documents
  • Religious
  • Multi-level marketing and pyramid schemes
  • Sale of any product, service, or activity that is deceptive, misleading, predatory, prohibited by one or more Card Networks, or that provides no added benefit to the buyer (this being determined by Praxis in its sole discretion).
  • Sale of malware and including, but not limited to, computer viruses, worms, trojan horses, spyware, dishonest adware, crimeware, unauthorized rootkits, and other malicious and unsolicited software.
  • Involve the sales of activities that are identified by government agencies as having a high likelihood of being fraudulent.
Services are integration and data transfer only and do not include transaction processing